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Description

Risk Management: Identifying, Rating and Treating Risks

Moving from a risk map filed away in a binder to treatment decisions that are genuinely tracked

  • 2 days — 14 h
  • In-person or virtual
  • Intermediate
  • Up to 6 participants

The risk map was produced once and then shelved. Risks are described in such general terms that nobody knows what to do with them. Operational departments see the exercise as a formality for the benefit of internal audit. When an event occurs, it had either not been identified or its treatment had never been funded.

These two days cover the full risk management chain. Participants learn to formulate a risk in a workable way, to lead identification work with business departments, to rate and prioritise without arbitrary judgement, then to select and monitor a treatment through to the accepted residual risk level.

Learning objectives

  • Formulate a risk by distinguishing cause, event and consequence
  • Lead risk identification work with operational departments
  • Rate likelihood and impact using shared scales
  • Select a treatment approach aligned with the agreed acceptance level
  • Monitor action plans and measure residual risk
  • Report the risk map to governance bodies

What makes this programme different

Vague risks brought by participants are reworded until they become treatable
Rating scales are calibrated against events that have already occurred
The link between the risk map and the audit plan is worked through on a real case

Programme

1Risk Management Framework and Vocabulary

Discussing risk using the same words

  • Distinction between risk, incident and confirmed problem
  • Respective roles of risk management and internal audit
  • Risk appetite and acceptance levels
  • Alignment with the internal control framework

2Identification and Formulation

Moving beyond headings that say nothing

  • Internal and external sources of identification
  • Conducting interviews with business departments
  • Group workshops and facilitation techniques
  • Drafting a workable risk sheet
  • Building and maintaining the risk register

3Assessment and Prioritisation

Ranking risks without arbitrary judgement

  • Building likelihood and impact scales
  • Taking existing controls into account
  • Distinction between gross and net risk
  • Presenting the risk map so leadership can read it
  • Extreme scenarios and accumulation effects

4Treatment and Monitoring

Deciding, then standing by the decision

  • Choosing between reduction, transfer, avoidance and acceptance
  • Costing the treatment and budget trade-offs
  • Appointing risk owners
  • Early-warning indicators and trigger thresholds
  • Updating the risk map and reporting to governance bodies

Who is it for

Risk managers and internal auditors, as well as internal control officers and process owners responsible for a risk map.

Prerequisites

Some initial experience of internal control or internal audit

Dates & locations

36 scheduled dates between November 2026 and December 2027. Seats are confirmed in the order enquiries are received.

November 2026

December 2026

January 2027

February 2027

March 2027

April 2027

May 2027

June 2027

September 2027

October 2027

November 2027

December 2027

None of these dates suit you? We open additional sessions on request, and any programme can be run privately for your team.

Practical details

Before the programme
Online positioning questionnaire. Your development objectives are shared with the trainer, who tailors the practical case studies to your context.
Teaching methods
Theoretical input, workshops and practical case studies. Digital course materials and method sheets provided.
Assessment
Multiple-choice tests and role-play exercises. Assessment of learning at the start and end of the programme, with immediate and 60-day follow-up evaluations.
After the programme
One year of access to the e-learning platform. Self-assessment of the skills acquired and a 30-day follow-up session with your trainer.
How to register
Registration online or on the basis of a quotation.
Lead time
11 working days after confirmation of registration.
Accessibility
Accessible to people of determination. Contact our accessibility coordinator to design a suitable solution: contact@mpf-academy.ae
Start dates
Rolling intake: in addition to the scheduled sessions, this programme can start on request.